China Sunsine – Recovery in play

On 21 Feb, I have done a writeup on China Sunsine pointing that they may be on the cusp of a recovery Since my writeup (Sunsine closed at $0.255 on 21 Feb), it has surged 36.7% (inclusive of a dividend of $0.01 during the period) to touch an intraday high of $0.335. It closed at $0.310 on last Friday. Sunsine’s 1HFY14 net profit exceeds the entire net profit earned in FY13 Based on Table 1 below, Sunsine seems to be turning around with 2QFY14 sales and net profit up significantly from the previous few quarters and on a year on year comparison. What is interesting is that […]